Interest on investment
This query is : Open
19 February 2013
Please quote any of the case law where assessee is following mercantile accounting system but in order to account for interest assessee has used cash accounting system???
Whether such method of accounting is allowed or not??
If allowed kindly quote any relevant case law
Whether such method of accounting is allowed or not??
If allowed kindly quote any relevant case law
19 February 2013
Dear Surbhi,
Provided that the assessee has been following this hybrid model of accounting historically, the same can be defended useing the Delhi High Court in Cyber Media (India) Ltd vs CIT [ 2011] 338 ITR 177.
Provided that the assessee has been following this hybrid model of accounting historically, the same can be defended useing the Delhi High Court in Cyber Media (India) Ltd vs CIT [ 2011] 338 ITR 177.
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20 February 2013
Thanks a lot sir.....This would be very helpful for me
20 February 2013
One more request sir....Kindly share the link of this case law.
I am just unable to find out this case law.
I am just unable to find out this case law.
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